Member Info for BillTucker89

Why will this not wipeout the institutional holders? They are the same as us share holders.

Share price rising again, but nothing been announced from the company.

Simon Jack interestingly tweeted capital will be coming from new investors as confirmed by debt holders.

Meta- there are definently more disposals on the cards.

Fate-With regards to the 2 international sales, I’m guessing you are including a disposal in Spain? If so I believe this is on hold.

Eodfire- originally bought in 2016 when they had set aside 70m for EFW. I then topped again after the end of year17 trading update, where they announced everything was on track including EFW. I saw an opportunity to increase my holding based on the infirmation on hand.However just a few weeks later they had a RNS stating they needed another 90m for it? This saw my investment half in a matter of weeks. As you know this sum has increased a few more times since then, so clearly misleading people. I then didn't invest any further until after the refinancing this year, as they stated everything was ok until 2021 and EFW would be closed out very soon. I saw this is an opportunity to bring my average down, and saw some credibility in the management team. However we now know most it if it was a work of art and fiction, particularly around the comms regarding EFW, hence FCA Involvement. As to why i invested, reasons are above I saw a good stable business based on the information from the company which we now know was all lies. If they had been honest and acknowledged the issue after the first EFW warning, taken remidiation immediately, we wouldn't be here today.

N100CKA- it seems some people are just hoping for the best, rather than looking at reality. Like you I'm heavily invested here and see nothing negative in your post, just facts. However we have to accept the situation is dire at the moment with dire consequences, as you say the balance sheet is empty and full of future liabilities. I said in my post a few days ago we are here to help each out, by sharing knowledge based on facts rather than made up opinions. The rampers need to face reality a do the derampers, and come up with balanced and realistic views.

Interesting point Meta, though i can't see how the D4E here will benefit the likes of Coltrane or Farringdon here, after all it's meabt to dilute all shareholders not specific ones.

It does look to be game over for us shareholders at this price, as a D4E will be a total wipeout more or less. Equity value is virtually 0, whilst the debt keeps growing. I don't think there is any good news, otherwise the BOD would have said something ages ago. Don't forget in a situation in like this, the director's are responsible for acting in the lender's interest as opposed to shareholders.

What i can't understand though is why none of the big boys like Coltrane have not bailed out yet? With Carillon we saw sells going through from November onwards.

Met-any ideas?

Meta, seems they have played the same trick there too. Farringdon reduced their holding, only to pass the equity onto Dukes. Now I'm fairly well confused about the reasoning behind this.

Meta, yes it isthe same Farringdon, so it looks like they are still holding their voting rights albeit through different institutions. So they haven't bailed out as we thought?

Fate- thanks. I'd rather have a honest and realist view, rather than live in cuckoo land like some of the posters. This goes for both posters who continuously preach there isn't a problem and think there's ab easy way out of this for IRV. Living in denial will not get you your money back or make the sp rise. On the other hand those who continuously say this is the end etc....again just biased views at play.

At the end of the day we're supposed to help each other out here by passing on and sharing knowledge, and most significantly being honest and truthful, to gain or minimise losses, not live in contionous denial. With regards to Meta i agree he does act silly at times, but equally he does have some good solid advice.

Fate- agree debt holders are not interested in running the company, but we have to remember one of the holders is a vulture fund, who will be interested in just that to maximise profits. Also they wouldn't ask for warrants to purchase 20% of the company if that was the case.

Interestingly we do have new shareholders coming on board, and i honestly don't know what to make of it. Duke university have purchased 3.79% this week, and standard life have built up a 6.79% stake. That's more than 10% of the company this week, so they either know something or are incredibly brave.

My average is £2 hereso way off the current price.

Cc2015- except the payment will not be made in feburary, as the anticipated insurance receipts and EFW milestone payment have been reduced, and delayed respectively.

Encouraging to see this article, but I'm still not getting my hopes high for now, and doing my own research in the background. We know for certain new equity and a d4e is fir definite, but not at what cost and when? Will it be deferred until the Share price recovers to a sane amount is before then? Also the BOD are heavily invested in here, so presumambly they will not want a total wipeout? Coltrane have not sold anything either, and they hold most of the shares?

Number of possibilities here, just wish the directors would stop playing the old smoke and mirrors game.

However those who fail to acknowledge this need a reality check.

There are people saying d4e would have happened a long time ago l, but it didn't so not likely to happe. This is where the lenders played it smart. Since the refinancing the company has wrote off 244m from it's balance sheet, and lost a further on EFW. Who has taken the pain of this? The shareholders, whilst the banks have continued to receive their 10% interest. If they had taken equity earlier, they would have taken the brunt of all this.

Now that the business has been trimmed down, EFW has nearly been closed, unprofitable contracts have been terminated, this is now an attractive cash generating business for a D4E. This is what worries me and people should bear in mind.

Thanks Meta. I know for definite there will be a equity raise or a d4e no doubts there, just not the extent of dilution.

You would have thought the likes of SLA did some research before investing in companies like this, after all this is what their "experts" get paid for.

Meta- what's your view on Standard life gobbling up the shares then?

Surely they are more informed than you and I, so wouldn't invest now only to be wiped out in a month or so.

Standard life have built up a 5% stake in recent days.

Farringdon have reduced again. They have dropped 1% in a day. Worrying times ahead.

Llucan- but none of these are lemdees as you state?

RMD sale will NOT happen as people keep speculating. This has been confirmed, as it has already been said this is what is bringing in the money.

Only 2 optiins are new equity or D4E.